Leonard M. Tannenbaum Buys 50,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the acquisition, the director now directly owns 3,959,876 shares in the company, valued at approximately $24,551,231.20. This trade represents a 1.28 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Stock Down 4.8 %

AFC Gamma stock traded down $0.32 during midday trading on Monday, reaching $6.30. The company’s stock had a trading volume of 580,267 shares, compared to its average volume of 167,861. The company has a market cap of $138.30 million, a P/E ratio of 15.75 and a beta of 1.03. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $8.34 and a 200-day simple moving average of $9.27. AFC Gamma, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $13.28.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Alliance Global Partners initiated coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.00 to $7.00 in a report on Friday. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Hedge Funds Weigh In On AFC Gamma

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after buying an additional 2,200 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of AFC Gamma by 24.1% in the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after acquiring an additional 4,005 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of AFC Gamma in the third quarter valued at about $52,000. Geode Capital Management LLC increased its stake in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares during the period. Finally, State Street Corp raised its holdings in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares in the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.